Mortgage Interest Support cut 1st Oct

[enaid]

Mortgage interest support

The current system of mortgage interest support means that 92% of customers get more help than they actually need. To ensure that Support for Mortgage Interest (SMI) is better targeted we will reduce the rate from 1 October 2010 from 6.08% to the Bank of England average (currently 3.67%).

http://www.dwp.gov.uk/newsroom/top-stories/

[TUTTSI]

Re: Mortgage Interest Support cut 1st Oct

Not good news then for peeps on benefits, the money will have to come from somewhere I guess?

Mortgage interest support

The current system of mortgage interest support means that 92% of customers get more help than they actually need. To ensure that Support for Mortgage Interest (SMI) is better targeted we will reduce the rate from 1 October 2010 from 6.08% to the Bank of England average (currently 3.67%).

http://www.dwp.gov.uk/newsroom/top-stories/

[pompeyfaith]

Re: Mortgage Interest Support cut 1st Oct

did not know about this so now wondering if i should claim and if i am entitled how much i have lost over last 18 mths

[TUTTSI]

Re: Mortgage Interest Support cut 1st Oct

I did post up for the over 60's Mortgage interest help sometime ago which is here:- http://www.legalbeagles.info/forums/...ead.php?t=6746

Is this what they are going to reduce?

It is hard enough getting to the stage where they will actually give you the support let alone reduce it.

the way it is going we will have to find Robin Hood when we visit Nottingham to get him to help the needy whose benefits will be reduced.

[enaid]

Re: Mortgage Interest Support cut 1st Oct

did not know about this so now wondering if i should claim and if i am entitled how much i have lost over last 18 mths

http://mobile.shelter.org.uk/get_adv...tgage_interest

[pompeyfaith]

Re: Mortgage Interest Support cut 1st Oct

thanks enaid seems IB is not covered so will have to wait until i am migrated over too ESA